SM Prime Holdings Inc. said profit for the first nine months of the year reached P15.6 billion, up 9 percent from P14.4 billion last year.
Revenues hit P56.8 billion, down 6 percent lower from P60.7 billion last year.
“SM Prime continues to develop new ways and solutions in its businesses by developing sustainable programs that provide safe and secure environment for all of its stakeholders.
This is in line with our anticipation of welcoming more people in our establishments, primarily in our malls and other commercial facilities, where thousands of our partner-tenants can showcase their products and services this coming Holidays Season,” said Jeffrey Lim, SM Prime president.
SM Prime said its residential business accounted for 56 percent of the nine-month revenues at P32.1 billion, 6 percent lower than last year’s P34.2 billion.
The group’s mall business, which accounts for 28 percent of revenues posted P15.8 billion in topline, down 14 percent from last year’s P18.3 billion.
